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ORDINANCE NO. O~k-~5~[']
AN ORDINANCE OF THE CITY OF BOYNTON BEACH,
FLORIDA AMENDING CHAPTER 18, ARTICLE 11, DIVISION 4
OF THE CODE OF ORDINANCES OF THE CITY OF BOYNTON
BEACH, FLORIDA TO AMEND THE PRE-RETIREMENT DEATH
BENEFIT OF THE GENERAL EMPLOYEES' PENSION PLAN;
SPECIFICALLY AMENDING SECTION 18-115, ENTITLED
"DEATH BEFORE RETIREMENT DATE", TO PROVIDE A
METHOD FOR CHOSING AND CALCULATING A SURVIVOR
BENEFIT; PROVIDING FOR CODIFICATION; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, on January 2, 2001, the City Commission of the City of Boynton
Beach, Florida adopted Ordinance No. 00-75 providing enhanced benefits to the
members of the General Employees' Pension Plan ("Plan"); and
WHEREAS, the General Employees' Pension Board of Trustees ("Board") has
determined the necessity to amend the terms of the Pre-Retirement Death Benefit
provided in §18-115 of the City of Boynton Beach Code of Ordinances in order to
clarify the intentions of the method of applying this benefit within the Plan; and
WHEREAS, the Board has approved and recommended to the City
Commission the adoption of this amendment to the Plan as more particularly set forth
hereinbelow; and
WHEREAS, it is the desire of the City Commission to amend the Plan as
recommended by the Board;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
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ORDINANCE NO. O~ - O&'7
The foregoing "WHEREAS" clauses are hereby certified as
All exhibits
Section 1.
being true and correct and are incorporated herein by this reference.
attached hereto are hereby incorporated herein.
Section 2. The City Commission of the City of Boynton Beach, Florida
hereby amends Chapter 18, Article II, Division 4, Section 18-115 of the City Code of
Ordinance of the City of Boynton Beach, entitled "Death Before Retirement Date", as
follows:
Section 18-115. Death before retirement date.
(a) Prior to January 2, 2000, in the event of death of an employee
prior to the receipt by such employee of any of the benefits under the provisions
of this article, then the total amount of contributions by said employee to the
fund, up to the time of his death, shall be paid to the beneficiary of the deceased
employee, together with interest thereon at the rate of three percent (3%) per
annum to January 1, 1977 and five percent (5%) thereafter, computed in the
manner provided in section 18-117, unless the employee has reached normal
retirement age and the retirement annuity option provided in section 18-118 has
been elected by the employee, in which case pension payments will be made as
though the employee had retired on the date before he died.
(b) On or after January 2, 2000, in the event of the death of an
employee prior to the receipt by such employee of any of the benefits under the
provisions of this article, then the beneficiary of the deceased employee who
was not vested, may receive the total amount of contributions by said employee
to the fired, up to the time of his or her death, together with the interest thereon
at the rate of five percent (5%) per annum thereafter, computed in the manner
provided in section 18-117. The beneficiary of an employee who became
vested prior to their death may receive the pension benefit earned by the
employee as though the employee had retired on the date before (s)he died
payable either as an immediate lump sum pa~nent or as a monthly survivor
benefit for the remainder of the survivor's life.
(1) The immediate lump sum pawnent is equal to the ~eater
of the employee's contributions together with the interest thereon at the
rate of five percent (5%) per annum or the lump sum value of the
actuarial calculation of the employees' accrued pension payable at the
earliest date the employee could have retired.
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~ea*& beneSt.~oc
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ORDINANCE NO.
(2) The monthly survivor benefit would be the actuarial
calculation of the employee's accrued pension starting at the earliest
date the member could have retired. If the beneficiary's age is more
than fifteen (15) years less than the employee's age at the time of death,
then the monthly benefit will be reduced as though the beneficiary wa,q
fifteen (15) years younger than the employee. The monthly survivor
benefit is payable at the earliest date the employee could have retired.
(3) If the earliest date that the employee could have retired is
before the normal retirement date, then the accrued death benefit will be
subject to the early retirement penalty of three percent (3%) for each
year prior to what would have been the employee's normal retirement
date.
(4) If the beneficiary selects to receive the monthly survivor
benefit but predeceases the date such payments commence, the
employee's estate shall receive a refund of the employee's contribution~
together with the interest thereon at the rate of five percent (5%) per
annum.
Section 3. It is the intention of the City Commission of the City of Boynton
Beach that the prOvisions of this Ordinance shall become and be made a part of the
Code of Ordinances of the City of Boynton Beach, Florida. The Sections of this
ordinance may be renumbered, re-lettered and the word "Ordinance" may be changed
to "Section", "Article" or such other word or phrase in order to accomplish such
intention.
Section 4. All Ordinances or parts of Ordinances, Resolutions or parts of
Resolutions in conflict herewith be and the same are hereby repealed to the extent of
such conflict.
Section 5. If any clause, section, or other part or application of this
Ordinance shall be held by any court of competent jurisdiction to be unconstitutional or
invalid, such unconstitutional or invalid part or application shall be considered as
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death benefit, doc death benefit, doc ....................................
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Section 6.
occurred:
(a)
ORDINANCE NO. O&-0o17
eliminated and so not effecting the validity of the remaining portions or applications
remaining in full force and effect.
This Ordinance shall become effective when the following have
the City Commission has received and has accepted a report establishing
the actuarial soundness of these amendments;
(b) when a collective bargaining agreement ratifying the foregoing changes to
pension benefits has been ratified by the City Commission and the General
Employees' Pension Board of Trustees, or their successor organization;
and
(c) a copy of this Ordinance is transmitted to the State of Florida Division of
Retirement.
Upon satisfaction of all of the above requirements, then in that event, the terms
and provisions of this Ordinance shall become effective and retroactive to the effective
date of Ordinance No. 00-7{; on ol -olt-e,I.
THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY
LEFT BLANK
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ORDINANCE NO. ~5,~ - 01~,"/
FIRST READING this t~ day of
SECOND, FINAL READING and PASSAGE
., 2002.
,2002.
this day of
CITY OF BOYNTON BEACH,
ATTEST:
Commissioner '
Commissioner ...... '
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